Fanatics has obtained a valid sports wagering certification from the Arizona Department of Gaming, opening the doors for its venture within the state. Fanatics will be accompanied by the Tonto Apache Tribe in the form of a collaboration.
After acquiring PointsBet, Fanatics debuts online sportsbook as part of its broader strategy, following the recent certification for sports wagering in Arizona.
The certification is $850,000, with a yearly renewal fee of $150,000. Fanatics is a top company manufacturing and retailing certified sportswear for American sports leagues. In the sports wagering space, it still has to make its mark.
The sportsbook will be accessible in 17 states following its introduction in Arizona. The company will also be in Kansas, Louisiana, New Jersey and Wyoming. In February, it made its entry into the New York markets.
Presently, 17 online sportsbooks and over 25 retail outlets exist in Arizona, where a gaming enthusiast can personally lay a wager.
As in the case of all the different markets, online sports betting has the largest share, with AZ online books reaching almost $700 million in handle in January, in the case of non-tribal retail sportsbooks, the figure stood at $2.1 million.
The big-time players in Arizona are ranked according to their stature and fall under 3 tiers. Tier 1 has FanDuel and DraftKings with over $100 million in handle. Tier 2 has BetMGM, Caesars, and ESPN Bet, falling under the bracket of $40 million to $99 million in the handle, and Tier 3 is for the rest, with less than $40 million in the handle.
Fanatics will fall under the Tier 3 category, in competition with the smaller players such as Hard Rock Bet and Desert Diamond, which brought in a collective revenue of $13 million in January. The company runs in three best five sports wagering states about handle. These include New York, Pennsylvania, and Ohio.
Of late, Fanatics declared that it would be entering North Carolina, one of the five prime sports wagering states, following the success of its new ventures. In Arizona, the company is bound to have good prospects.
